NEW DELHI: The 50-share Nifty Index is likely to consolidate in trade on Wednesday following weak global cues. However, analysts maintain positive view on the markets and see the index inching higher in the near-term.

The Nifty index has slowly but steadily inched higher in the last three weeks and gained almost 393 points from a low of 5032 made on the 26th July 2012 to a high of 5399.95 on the 21st August 2012.

Vinit Pagaria, VP - Investment Strategies at Microsec Capital Ltd, is of the view that a close above 5400 levels on the Nifty can take the markets higher to 5460-5500 levels.

Here is a list of fourteen stocks that are likely to be in action in morning trade today

1) Tata Steel Ltd, after the company said it will pay $471.17 million (around Rs 2618.3 crore) to holders of its foreign currency convertible bonds (FCCBs) that are maturing on September 5.

The company had issued these convertible bonds in 2007 and bondholders were supposed to give notice of conversion into shares by August 6.

2) L&T Ltd, after the central excise department has slapped a notice on infrastructure major for alleged non-payment of excise duty of Rs 160 crore, a demand that the company said it is contesting, media reports indicated.

3) Novartis Ltd, after the Supreme Court court will hear final arguments starting this week in a landmark case over drug patents that could change the rules for the country's healthcare sector and potentially curb its global role as a supplier of cut-price generic medicines.

4) Central Bank of India, NCC, Shipping Corporation of India and The South Indian Bank will be in focus after the National Stock Exchange announced the exclusion of four new securities from its futures and options (F&O) segment from August 31.

5) Essar Oil Ltd, after the Colombia's Ecopetrol is planning to sell 12 million barrels of its Castilla crude oil to Essar Oil over one year, in a deal worth $1.2 billion (around Rs 6,720 crore).

"In a bid to reduce its dependence on oil from Iran, Essar Oil has entered into an agreement with the largest and primary petroleum company in Colombia," media reports indicated. 6) Pantaloon Retail India Ltd, after the Competition Commission has termed as invalid an application seeking its approval for takeover of Future group's Pantaloon brand business by Aditya Birla Nuvo, as the final deal was yet to be approved by the boards of the concerned companies.

7) IL&FS Engineering and Construction Company Ltd, after the company bagged projects worth Rs 494 crore in the buildings and structures sector. The order is for development of a high-end multi-storeyed group housing project from Emaar-MGF for construction of Palm Garden complex at Sector-83 on National Highway-8, Gurgaon.

8) Jet Airways Ltd, after the airliner said that effective October 18, it will launch a new Mumbai-Sharjah service, its sixth daily flight to the UAE from the city, apart from resuming services to Kuwait and Bahrain from Kochi, as part of its winter schedule.

9) Videocon Ltd, after Cellular operator Videocon today said it is targeting to double mobile subscribers' base to three million in one year in Punjab.

10) ONGC ltd, after ONGC Energy Centre (OEC), a research division of ONGC on alternate energy, has joined hands with a Belgian firm to harness geothermal energy in South Cambay basin of Gujarat, a top official said today.

11) Wockhardt Ltd, after the drug firm Wockhardt today said it has received final approval from the US health regulator to market generic Felodipine tablets used for treating hypertension in the United States.

12) GAIL Ltd, after the state-run gas utility GAIL India Ltd has cut its equity stake in ONGC's Dahej mega petrochemical project to 15.5 per cent after project cost further escalated by 9.5 per cent.

13) BHEL, after the company is looking to bolster its overseas foot prints, state-run Bharat Heavy Electricals is actively scouting for acquisition opportunities in Europe and the US.

"At present, the company is executing as many as 24 contracts spread across 19 countries, including Afghanistan, Ethiopia, Indonesia, Sudan, Syria and Vietnam," PTI reported.

14) NMDC Ltd, after the iron ore miner increased the contract price of key steel-making raw material by 8-13 per cent for the July-September period to cash in on the current demand-supply mismatch scenario in the market.